"Environmental review requirements under the National Environmental Policy Act (NEPA) would be significantly narrowed for housing. Projects under 15 units, infill developments, office-to-residential conversions and rehabilitation work would qualify for expanded categorical exclusions, allowing them to bypass lengthy federal reviews. The HOME Investment Partnerships Program would receive similar exemptions, along with new planning grants for jurisdictions implementing zoning reforms. Backers argue the changes could remove months or years from project timelines, lowering carrying costs and increasing overall housing inventory."
"Federal Housing Administration (FHA) multifamily loan limits would increase by roughly 300% to 400%, with per-unit caps for elevator buildings rising from roughly $38,000 to just over $167,000. Limits would be indexed annually to construction cost inflation, aligning federal underwriting with modern building expenses. By modernizing outdated housing programs, reducing unnecessary barriers to development and increasing flexibility for local communities,"
The bill creates pilot grants for cities to develop pre-approved pattern books of standardized housing designs usable without case-by-case design review. NEPA environmental review requirements would be narrowed for housing, expanding categorical exclusions to projects under 15 units, infill developments, office-to-residential conversions and rehabilitation work. The HOME Investment Partnerships Program would receive similar exemptions and new planning grants for jurisdictions implementing zoning reforms. FHA multifamily loan limits would rise roughly 300–400 percent with per-unit caps indexed to construction cost inflation. Backers say these changes shorten timelines, lower carrying costs and increase housing supply; critics warn reduced NEPA reviews could weaken environmental safeguards.
Read at www.housingwire.com
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